Location: Nassau-Suffolk, NY | Metro: Nassau-Suffolk, NY HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,070 |
| 1 Bedroom | $2,410 |
| 2 Bedrooms | $2,840 |
| 3 Bedrooms | $3,650 |
| 4 Bedrooms | $3,880 |
| 5 Bedrooms | $4,501 |
| 6 Bedrooms | $5,041 |
| 7 Bedrooms | $5,444 |
| 8 Bedrooms | $5,716 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,840 | $664,021 | 0.43% | F |
| 3BR | $3,650 | $797,480 | 0.46% | F |
| 4BR | $3,880 | $1,013,667 | 0.38% | F |
| 5BR | $4,501 | $1,315,406 | 0.34% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 11542, which encompasses Glen Cove, NY, in Nassau County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $2,520 per month for the fiscal year 2024. This figure is specifically tailored to reflect the rental market conditions within this ZIP code alone, ensuring it accurately represents the local rental environment.
In contrast, the local market rent, as measured by ZORI (Zillow Observed Rent Index), stands at $3,522. This higher figure represents the average rent that tenants might pay for similar units in the area without the use of a voucher. Landlords often wonder how much they will actually receive when a tenant uses a Section 8 voucher. The answer lies in understanding the components of the voucher payment.
A Section 8 voucher pays the difference between the SAFMR and the tenant's portion of the rent, which is typically 30% of their income. Additionally, there are utility allowances that can vary but generally range around $200-$300 per month. Therefore, if a landlord charges the maximum allowed by the SAFMR, the total reimbursement would be close to $2,520 plus any applicable utility allowance. For instance, if the utility allowance is $250, the landlord could expect a monthly reimbursement of approximately $2,770.
If the landlord sets the rent at the local market rate of $3,522, the voucher would cover the difference between the tenant's 30% contribution and the SAFMR. Assuming an average utility allowance of $250, the reimbursement would fall short of the market rent. In this scenario, the landlord would receive the SAFMR of $2,520 plus the utility allowance of $250, totaling $2,770. The gap between the market rent and the voucher reimbursement would then be $752 per month.
To summarize, the typical reimbursement gap for a two-bedroom unit in ZIP 11542, assuming a market rent of $3,522 and a utility allowance of $250, is $752. This means landlords must decide whether to accept the lower reimbursement or seek non-voucher tenants willing to pay the higher market rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.